What is Pawnee's right where pawnor makes default? Section 176 of Indian Contract Act 1872
176. If the pawnor makes default in payment of the debt, or performance, at the stipulated time of the promise, in respect of which the goods were pledged, the pawnee may bring a suit against the pawnor upon the debt or promise, and retain the goods pledged as a collateral security; or he may sell the thing pledged, on giving the pawnor reasonable notice of the sale.
If the proceeds of such sale are less than the amount due in respect of the debt or promise, the pawnor is still liable to pay the balance. If the proceeds of the sale are greater than the amount so due, the pawnee shall pay over the surplus to the pawnor.
Section 166 - Bailee not responsible on redelivery to bailor without title
Section 167 - Right of third person claiming goods bailed
Section 168 - Right of finder of goods, may sue for specific reward offered
Section 169 - When finder of thing commonly on sale may sell it
Section 170 - Bailee's particular lien
Section 171 - General lien of bankers, factors, wharfingers, attorneys and policy-brokers
Bailment of pledges
Section 172 - Pledge pawnor and pawnee defined
Section 173 - Pawnee's right of retainer
Section 175 - Pawnee's right as to extraordinary expenses incurred
Section 176 - Pawnee's right where pawnor makes default
Section 177 - Defaulting pawnor's right to redeem
Section 178 - Pledge by mercantile agent
Section 178A - Pledge by person in possession under voidable contract
Section 179 - Pledge where pawnor has only a limited interest
Suits by bailees or bailors against wrong-doers
Section 180 - Suit by bailor or bailee against wrong-doer
Section 181 - Apportionment of relief or compensation obtained by such suits
CHAPTER X AGENCY
Appointment and authority of agents
Section 182 - Agent and principal defined
Section 183 - Who may employ agent